After the successful creation of first knowledge clusters, another world-class hub is soon to rise in Dubai, the Dubai Design District.
Dubai Design District will be the region’s major outlet for global fashion and accessories products and the focal point of design, innovation and creativity for the global fashion industry. The creation of this project will create new employment opportunities and promote UAE fashion designers.
The new cluster will be operated by Tecom Investments, a member of Dubai Holding. The firm is known and good reputation in creating, operating and developing successful themed business parks industry in Dubai.
His Highness Shaikh Mohammad bin Rashid Al Maktoum,Vice-President and Prime Minister of the UAE and Ruler of Dubai announced that integration of the new facility adjacent to the Business Bay of Dubai. This will be dedicated in maturing the country’s fashion, design and luxury sectors.
Analysts says that the innovation of the Dubai Design District will not compete or be a substitute for Milan or Paris as the world’s fashion hub, but instead it will be a platform where more investments can flow.
“The new fashion,design, and luxury goods district builds on Dubai’s strengths in tourism,which is expected to double the number of visitors to 20 million by 2020,and in retail,which is estimated to grow to Dh151 billion in the next two years,”a Dubai Government statement said.“These strengths coupled with Dubai’s strategic location and business-friendly environment,have encouraged major industry players like Prada,Louis Vuitton,and Ralph Lauren to set-up operations in Dubai.”
With this project, investors are expected to be fascinated with emirates developing creative fashion designs for the global luxury and consumer markets and will contribute to the industry’s growth.
The Middle East luxury market saw growth of 10 to 15 per cent from 2011 to 2012, establishing the region as the tenth largest luxury goods market globally.
Dubai’s current knowledge clusters are Dubai Internet City, Dubai Media City, Knowledge Village, Dubai Studio City and International Media Production Zone.